Global Used Machinery Market
One of the most important factors in economic development, especially in developing countries, is to invest in production. Due to this, firstly machinery and also equipment investment must be taken into account. It is easy to see that a new machine, new plant and/or a new equipment means some very big costs. Therefore, the purchase of used plants and machines are becoming an attractive solution instead of buying new. For instance, second hand machinery may be the right choice for a small work which firstly wants to become in the market and then expand its work capacity. Today, one of the advantages of buying used machinery is that most items on the market are in good situation. How? Most rate of second hand machines are obtained from companies which plan upgrade fixed assets such as machines, equipment etc. for higher capacity and upper capabilities.
Even developed countries have less market share, they are still considered to have more advantages in second hand machinery products. Therefore, it is clearly said used machinery market is becoming more important day by day and has a continious future. In the used machinery market around the world, factors can be basicly aggregated which is related to the type of machine and function, also maintenance. And external subjects are coming from market conditions such as customer behaviour, technological developments, change in foreign Exchange rates etc. First internal factor is the age of the machine or in another words, its life span. Depreciation is one of fixed costs in a company. If the machine is young, however used badly, that means more depreciation expense than an older machine but used in good conditions. Another main factor is considering the possible use for the future and it meets the need of your plant of the piece of machinery when estimating its present value Taking external factors into account, customers behaviours are really important. Most buyers are fond of country of orgin of the machinery. Another behaviour model is beeing hesitant which choice is more profitable. Is buying a used machine or buying a piece that has been used little before and adapting into new machine? Also, if technological developments are happening in a machine type, it is generally looked even how much rate the used machine meets these developments. Last but not least, if you import a second hand equipment, marked changes in currency affect your purchase time delay or completely cancellation.
As you see, from the below pie chart, according to 2017 OECD datas, United States is keeping its leadership in this sector. Immediately after, China and India is sharing nearly same percentage as second level. Other countries are summarized as Europian Union and the other world countries.
Meanwhile, amount of the second hand machine inventory is changing according to the continents. As, it is seen below, Europe has a big source in this area. Also, even the least world countries have not an considerable role in the sales around the world, they can attack if they strenghten their export.